LINKBANCORP, Inc. (NASDAQ:LNKB) Sees Significant Increase in Short Interest

LINKBANCORP, Inc. (NASDAQ:LNKB) saw a large growth in short interest in the month of January. As of January 15th, there was short interest totaling 233,701 shares, a growth of 37.1% from the December 31st total of 170,490 shares. Based on an average daily trading volume, of 273,765 shares, the short-interest ratio is currently 0.9 days. Currently, 1.0% of the company’s shares are sold short. Currently, 1.0% of the company’s shares are sold short. Based on an average daily trading volume, of 273,765 shares, the short-interest ratio is currently 0.9 days.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on LNKB shares. DA Davidson lowered LINKBANCORP from a “strong-buy” rating to a “hold” rating in a report on Monday, December 22nd. Zacks Research upgraded LINKBANCORP from a “hold” rating to a “strong-buy” rating in a report on Friday, January 16th. Hovde Group lowered LINKBANCORP from an “outperform” rating to a “market perform” rating and set a $9.25 price objective for the company. in a research report on Friday, December 19th. Finally, Weiss Ratings upgraded shares of LINKBANCORP from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, January 20th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, LINKBANCORP has an average rating of “Moderate Buy” and a consensus price target of $9.63.

LINKBANCORP Stock Up 2.0%

Shares of NASDAQ:LNKB traded up $0.17 during midday trading on Friday, reaching $8.75. The company had a trading volume of 392,735 shares, compared to its average volume of 203,087. LINKBANCORP has a 1-year low of $6.09 and a 1-year high of $9.04. The stock has a market cap of $327.74 million, a PE ratio of 9.72 and a beta of 0.40. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.33. The business’s 50 day moving average price is $8.26 and its 200 day moving average price is $7.56.

LINKBANCORP (NASDAQ:LNKB) last posted its quarterly earnings results on Monday, January 26th. The company reported $0.10 earnings per share for the quarter, missing the consensus estimate of $0.23 by ($0.13). The company had revenue of $30.04 million for the quarter, compared to analyst estimates of $30.03 million. LINKBANCORP had a return on equity of 8.85% and a net margin of 17.97%. Research analysts forecast that LINKBANCORP will post 0.84 EPS for the current fiscal year.

LINKBANCORP Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 16th. Stockholders of record on Friday, February 27th will be given a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date of this dividend is Friday, February 27th. LINKBANCORP’s dividend payout ratio (DPR) is 33.33%.

Institutional Trading of LINKBANCORP

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Bernardo Wealth Planning LLC acquired a new stake in shares of LINKBANCORP during the second quarter worth $200,000. Fourthstone LLC increased its holdings in LINKBANCORP by 162.3% in the 2nd quarter. Fourthstone LLC now owns 327,439 shares of the company’s stock valued at $2,394,000 after buying an additional 202,598 shares during the period. Los Angeles Capital Management LLC acquired a new position in LINKBANCORP during the second quarter valued at approximately $161,000. Police & Firemen s Retirement System of New Jersey bought a new position in shares of LINKBANCORP in the 2nd quarter valued at $37,000. Finally, Atlantic Union Bankshares Corp acquired a new stake in LINKBANCORP in the second quarter valued at about $35,000. Institutional investors own 37.52% of the company’s stock.

LINKBANCORP Company Profile

Link Bancorp, Inc is a bank holding company headquartered in Wheeling, West Virginia, serving as the parent of Link Bank. Established to support the growth of a regional financial institution, the company offers a broad range of banking and financial services through its subsidiary, Link Bank. With an emphasis on community banking, Link Bancorp focuses on building long-term relationships with individuals, businesses and nonprofit organizations across its footprint.

The company’s core activities include commercial and consumer lending, residential mortgage financing, deposit account services and treasury management solutions.